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One video that every bitcoiner should look at is "The Money As Control System" by Andreas Antonopoulos. it shows us how money is used to control those who send and receive it and to monitor transactions around the world.
Moreover, he exposes how much the banking system is really a fraud. Not only can banks simply freeze or confiscate our money without our consent, and without being able to do anything about it, they also own our money and simply give us access to that – what a bad deal.
As Antonopoulos says, we do not have money in the bank, we have an account. A narrative that, perhaps, gives us access to the money that is in there, that we have filed in deceiving by the false promise of being safe. His brilliant example of the Greek public debt crisis is clear: all Greek citizens had their money in the bank and were insured, but in one afternoon the promise was broken and the money was inaccessible.
The video also explains "the call". The call is an aggressive phone call in which banks, acting as if they were jealous lovers, ask bitcoiners for specific transactions related to bitcoin. These calls have been made for years, and although some are resolved once bitcoiners justify where they were getting their money or what they were doing with their bitcoins, others are just that. the quest of a manager.
As Redcit said, big banks often give bitcoins problems, while local banks are much more satisfied with their customers and offer better service to bitcoiners.
Recently, a redditor shared with R / Bitcoin the call he received from his bank. The editor, EliToohey, explains that he had a banking relationship with PNC Bank for 15 years and that he received a call asking him to confirm some transactions.
According to the redditor, here is how the conversation unfolded:
"For what purpose do you buy Bitcoin" (he saw Coinbase and Xapo transactions). I told him that I would not answer, he then asked "What are you going to do with Bitcoin", I told him again that I would not answer. He then informed me that his security team had told him that they would "leave the relationship with me" if they did not get satisfactory answers. I gave up and told him "for investment purposes" hoping to avoid having to change banks. "
The redditor's response could satisfy the bank, but the appellant informed him that PNC Bank wanted "nothing to do with bitcoin". One could first of all think that the bank does not want to know anything about bitcoin because of its largely unregulated market. According to another editor, the bank must ask questions about certain amounts of money, as required by law.
However, the banker clarified at the end that PNC Bank did not want "anything to do with bitcoin" and, as such, made it clear that it was not about the transaction or the its volume, but of the relationship with bitcoin.
Your writer also called her bank to find out how she would react to Bitcoin related transactions. The employee who picked up the phone was on the defensive, but he specified that he would block such transactions and could even cancel my account.
"The call" shows that the banks are losing control
As Andreas Antonopoulos says, the banks are now losing control of the system they have created. People no longer believe the fictions provided by the security banks or their own money once they open an account.
A whole generation of people are now leaving the financial system and turning to cryptocurrency, a much better system that regulators can not reach. They can try to control it, forcing exchanges to do what they want, and trying to get people away from cryptocurrencies, but they can not control cryptocurrencies like bitcoin.
Here is Andreas Antonopoulos on "The Call":
Think about it: "The call" is your bank that inadvertently tells you that it can no longer control you, that you are partly outside its system and that you are now a liability so she prefers to give you back your money. "The call" is the bank inadvertently stating that Bitcoin is winning.
Image from Shutterstock.